Sharptown, Wicomico County, Maryland Property Taxes
Median Sharptown, MD effective property tax rate: 1.00%, slightly lower than the national median of 1.02%, but lower than the Maryland state median of 1.06%.
Median Sharptown, MD home value: $91,800
Median annual Sharptown, MD tax bill: $907, $1,493 lower than the national median property tax bill of $2,400.
How are property taxes in Wicomico calculated?
Property taxes in Sharptown, MD are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Sharptown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Sharptown, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Sharptown, Wicomico County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1%
Estimate Property Tax Bill
$918
$852
Property Tax Rates Across Sharptown, Wicomico County, Maryland
Local government entities set tax rates, which can vary widely within a state. This variability is due to each county estimating its required budget to provide services annually and dividing that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
In Sharptown, located in Wicomico County, Maryland, the effective property tax rate is 1.00%, aligning with both the highest and lowest median tax rates in the state. This rate is slightly below the national median property tax rate of 1.02%. The median property tax bill in Sharptown can be compared to the national median of $2,400. Understanding these figures is crucial for property owners seeking to manage their tax liabilities effectively. By comparing Sharptown’s property tax rate to other cities in Maryland and the U.S., property owners can gain a clearer perspective on their tax responsibilities and explore potential savings through appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Sharptown Tax Rate
1.00%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Wicomico County Tax Rate
0.94%
Median Effective Maryland Tax Rate
1.06%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Sharptown, Wicomico County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21861 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Sharptown, Wicomico County, Maryland
When examining property taxes in Sharptown, Maryland, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Wicomico County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Wicomico County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Sharptown. For example, the median home price in Sharptown is $91,800, with tax bills ranging significantly across the county. 21861 has the highest median home price at $91,800.
Property Tax Assessment Values Across Sharptown, Wicomico County, Maryland
Source: Ownwell
$91,800
$152,200
$212,600
Median Sharptown Market Value
$91,800
Median Wicomico County Market Value
$161,300
Median Maryland Market Value
$317,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Sharptown, Wicomico County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21861 | $56,900 | $70,600 | $91,800 | $132,000 | $170,200 |
Source: Ownwell
Property Tax Bills Across Sharptown, Wicomico County, Maryland
Median Sharptown Tax Bill
$907
Median Wicomico County Tax Bill
$1,455
Median Maryland Tax Bill
$3,419
Median United States Tax Bill
$2,400
Property Tax Bills Across Sharptown, Wicomico County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21861 | $567 | $702 | $907 | $1,296 | $1,685 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Wicomico Tax Assessor | |
| Website | sdat.dat.maryland.gov |
